Brands
Pickleball goes under the hammer as GSP sets stage for Season 2 auction
MUMBAI: The paddles are ready, and so is the gavel. Global Sports Pickleball (GSP) is set to host India’s first-ever live pickleball auction on 7 September 2025 in Mumbai, marking a defining moment for the fast-rising racquet sport. Season 2 of the Pro & Challenger League will see ten franchises bidding for five players each across both categories, making it the biggest player pool ever assembled for an Indian pickleball auction. For fans at home and abroad, the action will stream live on GSP’s official Youtube channel, turning the auction itself into a spectator sport.
This milestone comes as GSP continues to build a full-fledged ecosystem for pickleball. Over the past two years, the organisation has gone beyond tournaments developing courts, retailing gear, and running grassroots clinics in India and Dubai. Its league calendar already includes flagship events like the Indian Open and the Grand Slam, both designed to put Indian pickleball on the global sporting map.
GSP chief architect of pickleball growth Hemal Jain explained: “From grassroots clinics to national academies, our vision has been to craft a robust foundation for pickleball in India. This auction for our 2nd season is more than a sporting event, it’s a pivotal step in our shared journey to place pickleball on the world stage.”
Hindi filmmaker and GSP co-founder Shashank Khaitan added: “Pickleball is no longer the hidden star of the racquet sports world, it’s ready for its moment. With this auction and Season 2 of the League, we’re not just creating teams; we’re creating benchmarks. And a platform where dreams can come true.”
With ten teams, two categories, and a first-of-its-kind live auction, Season 2 of the Pro & Challenger League promises to be a turning point one where India doesn’t just play pickleball but takes it mainstream.
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
